Silver Report Uncut: Are you Prepared for a Debt Crisis?

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Silver Report Uncut
Jul 22, 2021

TSX: TML I OTC: TSRMF First Mining Gold The Fed’s job is simply to distract everyone from what they are doing to the dollar. In 2018, Janet Yellen along with Jason Furman (current economic advisor) observed in a Wash Post Op-Ed that, “a U.S. debt crisis is coming, but don’t blame entitlements.”

Translating Yellen’s speech into honest English, the motives for this 2018 warning were to oppose the $1T budget proposal, and Yellen actually believed what she said and that the US was indeed careening toward “a debt crisis.”

In fact, we were already in a debt crisis in 2018, In October of 2018, FX-hedged Treasuries went negative and Powell’s Fed began buying $60B worth of T-Bills/month without calling the same “QE” despite it being QE.

A year later when the repo-spike of September 2019 forced the same Fed to crank out the money printers and once again fatten its increasingly overweight and embarrassing balance sheet. One of the best assets to hold during a sovereign debt crisis is Gold. This brings us to one of our sponsors First Mining Gold. There have been some updates on Keith Neumeyer’s Gold Mining Company.

First Mining Gold (US: FFMGF) is without a doubt one of the most undervalued natural resource companies in the world right now!

Its most important asset is called Springpole, which happens to be one of few gold development projects that can produce 300,000+ ounces per year in a Tier One jurisdiction

What does that mean? Pre-Feasibility Study completed with a NPV 5% of US$995 million at US$1,600/oz gold!

In plain English, an appraisal has been done (PFS), which concluded that if gold sells for only $1,600 {not even $1,900 like today}, Springpole is worth just shy of $1bn! This company’s entire market cap today is USD$216M, in comparison!

When an acquisition bid is made, it is usually done at 0.5 to 0.7 of NAV, which implies that within 2-3 years, when Springpole is developed to the point of having its permit in place, just that project alone is worth USD$500M – USD$700M, a 300% upside potential, only from this one project!

The thing is that First Mining Gold has so much more than just Springpole project!

The company currently has USD$33M in cash, plus the company owns shares of three other mining companies, which are partnering with them on projects. Those shares are worth tens of millions of dollars!

Compared with its peers, FFMGF is valued at an 80% discount!! Its price can rise by 400% just to be at par with others! (slide 19)

The additional properties are being developed by partners and are all world-class assets.

Founder & Chairman of the company is Mr. Keith Neumeyer, who is founder of First Majestic Silver, the purest silver company in the world, a NYSE-listed company, with 4,000+ employees, earning Neumeyer the nickname “Mr. Silver.” He is a close contact of Eric Sprott and Mr. Neumeyer is considered to be among the best-ever in the business!SHOW LESS

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